Courtesy of Doug Short.
Here’s the latest weekend update from Serge Perreault, a Chartered Accountant and market technician located near Montreal, Canada. Serge has been following the U.S. market in a series of weekly charts. Here is his update on the S&P 500.
The S&P 500 paused its ascension, on 12% above-average and on mixed & near resistance momentum, 34 points or 2.6% away from its July 2011 resistance.
Note: For newcomers to technical analysis, here are brief explanations for the two key indicators that Serge features:
